E. Ohman J or Asset Management AB Buys 7,070 Shares of CVS Health Co. (NYSE:CVS)

E. Ohman J or Asset Management AB boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 14.1% in the 4th quarter, Holdings Channel reports. The firm owned 57,350 shares of the pharmacy operator’s stock after buying an additional 7,070 shares during the period. E. Ohman J or Asset Management AB’s holdings in CVS Health were worth $2,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tandem Capital Management Corp ADV acquired a new stake in CVS Health in the fourth quarter valued at approximately $1,002,000. Jennison Associates LLC bought a new stake in shares of CVS Health in the 4th quarter valued at about $14,099,000. Copeland Capital Management LLC acquired a new stake in CVS Health during the 4th quarter valued at approximately $104,000. Avantra Family Wealth Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth $506,000. Finally, Spire Wealth Management raised its position in shares of CVS Health by 27.0% in the 4th quarter. Spire Wealth Management now owns 12,397 shares of the pharmacy operator’s stock worth $556,000 after acquiring an additional 2,634 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada lowered their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Evercore ISI raised their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Truist Financial reduced their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

NYSE:CVS opened at $56.39 on Wednesday. The stock has a fifty day moving average of $51.16 and a 200 day moving average of $56.09. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a market capitalization of $70.96 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 0.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. On average, research analysts expect that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.72%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.